Coherent Stock Forecast

Coherent stock upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)

COHR Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 11.77%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Coherent stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $57.46. On a fall, the stock will find some support from the short-term average at $52.02. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Coherent stock

On the downside, the stock finds support just below today's level from accumulated volume at $49.42 and $49.26. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Coherent finds support just below today's level at $49.42. If this is broken, then the next support from accumulated volume will be at $49.26 and $48.69.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.53 between high and low, or 4.76%. For the last week, the stock has had daily average volatility of 4.54%.

Our recommended stop-loss: $52.78 (-4.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (COHR) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Coherent to open at $54.62, and during the day (based on 14 day Average True Range), to move between $52.76 and $57.36, which gives a possible trading interval of +/-$2.30 (+/-4.18%) up or down from last closing price. If Coherent takes out the full calculated possible swing range there will be an estimated 8.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $58.00 (5.34%) than the support at $49.42 (10.24%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Coherent stock A Buy?

Coherent holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.677 Hold/Accumulate Upgraded

Predicted Opening Price for Coherent of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.